Towpath Technology Correlations

TOWTX Fund

USD 14.90 0.20 1.36%

The current 90-days correlation between Towpath Technology and Towpath Focus is 0.2 (i.e., Modest diversification). The correlation of Towpath Technology is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

Towpath Technology Correlation With Market

Poor diversification

The correlation between Towpath Technology and DJI is 0.77 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Towpath Technology and DJI in the same portfolio, assuming nothing else is changed.

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Towpath Technology. Also, note that the market value of any mutual fund could be closely tied with the direction of predictive economic indicators such as signals in persons.

Moving together with Towpath Mutual Fund

0.8	TOWFX	Towpath Focus	Pair Corr
0.83	FSELX	Fidelity Select Semi	Pair Corr
0.67	FSPTX	Technology Portfolio	Pair Corr
0.88	SCICX	Columbia Seligman	Pair Corr
0.84	SLMCX	Columbia Seligman	Pair Corr
0.83	CCIFX	Columbia Seligman	Pair Corr
0.88	PRSCX	T Rowe Price	Pair Corr
0.78	FSCSX	Software And It	Pair Corr
0.77	WWLAX	Westwood Largecap Value	Pair Corr
0.67	WGGSX	Wasatch Global Select	Pair Corr
0.74	ASYIX	Strategic Income	Pair Corr
0.77	HLDAX	Hartford Emerging	Pair Corr
0.85	WHGMX	Westwood Smidcap	Pair Corr
0.9	FAWTX	American Funds 2060	Pair Corr
0.84	VTSAX	Vanguard Total Stock	Pair Corr
0.93	CATUX	Future Scholar 529	Pair Corr
0.79	PDAAX	Diversified Income	Pair Corr
0.8	WHGLX	Westwood Largecap Value	Pair Corr
0.92	FTCOX	Franklin Efolio Allo	Pair Corr
0.88	WOFDX	Wells Fargo Opportunity	Pair Corr
0.86	WQAUX	Westwood Quality Allcap	Pair Corr
0.92	VFIAX	Vanguard 500 Index	Pair Corr
0.89	MSJAX	Morgan Stanley Global	Pair Corr
0.88	CFXRX	Columbia Flexible Capital	Pair Corr
0.85	NQCCX	Nuveen Nwq Large	Pair Corr
0.92	VFINX	Vanguard 500 Index	Pair Corr
0.81	MAICX	Victory Trivalent	Pair Corr
0.84	GLOSX	Pioneer Global Equity	Pair Corr

Moving against Towpath Mutual Fund

0.76	CESGX	Coho Relative Value	Pair Corr
0.67	USPSX	Profunds Ultrashort Steady Growth	Pair Corr
0.66	USPIX	Profunds Ultrashort Steady Growth	Pair Corr
0.63	TCSUX	Cleartrack 2020 Class	Pair Corr
0.54	TCTGX	Transamerica Cleartrack	Pair Corr
0.53	TCTJX	Transamerica Cleartrack	Pair Corr
0.52	TDKTX	Cleartrack 2015 Class	Pair Corr
0.91	UIPIX	Ultrashort Mid Cap	Pair Corr

Related Correlations Analysis

	TOWFX	TOWTX	FGSKX	AEPCX	MTLCX	RULFX	CBVZX	GIPUX	AZMCX	VFINX
TOWFX		0.8	0.66	0.82	0.81	0.94	0.76	0.89	0.34	0.74	TOWFX
TOWTX	0.8		0.91	0.81	0.67	0.78	0.89	0.93	0.37	0.92	TOWTX
FGSKX	0.66	0.91		0.81	0.65	0.65	0.81	0.87	0.49	0.79	FGSKX
AEPCX	0.82	0.81	0.81		0.84	0.81	0.8	0.86	0.59	0.74	AEPCX
MTLCX	0.81	0.67	0.65	0.84		0.84	0.72	0.78	0.68	0.64	MTLCX
RULFX	0.94	0.78	0.65	0.81	0.84		0.72	0.88	0.32	0.7	RULFX
CBVZX	0.76	0.89	0.81	0.8	0.72	0.72		0.81	0.52	0.92	CBVZX
GIPUX	0.89	0.93	0.87	0.86	0.78	0.88	0.81		0.38	0.81	GIPUX
AZMCX	0.34	0.37	0.49	0.59	0.68	0.32	0.52	0.38		0.48	AZMCX
VFINX	0.74	0.92	0.79	0.74	0.64	0.7	0.92	0.81	0.48		VFINX
	TOWFX	TOWTX	FGSKX	AEPCX	MTLCX	RULFX	CBVZX	GIPUX	AZMCX	VFINX

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Risk-Adjusted Indicators

There is a big difference between Towpath Mutual Fund performing well and Towpath Technology Mutual Fund doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Towpath Technology's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
TOWFX	0.41	0.12	0.16	0.54	0.00	(0.48)	1.10	(0.74)	2.35
TOWTX	0.73	(0.03)	(0.03)	0.04	0.85	(0.80)	1.61	(1.37)	3.39
FGSKX	0.91	(0.05)	(0.03)	0.02	1.11	(0.97)	1.42	(2.09)	8.26
AEPCX	0.75	0.18	0.23	0.29	0.38	(0.91)	1.40	(1.24)	10.89
MTLCX	0.04	0.00	0.00	0.28	0.00	0.00	0.12	(0.12)	0.25
RULFX	0.04	0.00	0.00	0.55	0.00	0.00	0.10	(0.10)	0.60
CBVZX	0.20	(0.01)	(0.18)	0.01	0.24	(0.24)	0.41	(0.41)	1.13
GIPUX	0.30	0.04	0.01	0.17	0.19	(0.37)	0.58	(0.57)	3.83
AZMCX	0.61	0.09	0.05	0.55	0.57	(0.71)	1.45	(1.11)	3.82
VFINX	0.56	(0.03)	(0.05)	0.03	0.79	(0.52)	1.07	(1.17)	3.21

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